Nike to Raise Sneaker Prices, LeBron Kicks to Cost $315

by Angela Nazworth | August 21, 2012 2:56 pm

LeBron 9 PS Elite Mens Basketball Shoe 516958 100 A 300x225 Nike to Raise Sneaker Prices, LeBron Kicks to Cost $315[1]Famous footwear and sports apparel maker Nike (NYSE:NKE[2]) is planning price hikes, The Wall Street Journal[3]  reports.

The news comes just a few months after the company reported falling margins and profits[4], along with rising inventories in Europe and China.

The price increases come at an inconvenient time, considering that back-to-school shopping[5] is in full swing and the Christmas season[6] is just around the corner.

“Prices are getting crazy excessive and as long as we continue to buy sneakers, Nike is going to keep increasing the prices,” Donell Brown, owner of cleaning services company in Dearborn, Mich., told the Journal.

One of the priciest items that Nike will sell is the newest model of LeBron James’ basketball shoe that will debut this fall. The LeBron 9 PS Elite basketball shoe (shown above)¬† retails for a whopping $250[7], but the new LeBron Kicks, which will come with its own technology, are said to cost about $315.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/08/LeBron-9-PS-Elite-Mens-Basketball-Shoe-516958_100_A.jpg
  2. NKE: http://studio-5.financialcontent.com/investplace/quote?Symbol=NKE
  3. The Wall Street Journal: http://online.wsj.com/article/SB10000872396390444233104577593623581068492.html
  4. reported falling margins and profits: http://investorplace.com/2012/06/nike-margins-and-profit-fall-shares-plunge/
  5. back-to-school shopping: http://investorplace.com/2012/07/back-to-school-is-not-what-it-used-to-be-kss-wmt-tgt-gps-anf/
  6. Christmas season: http://investorplace.com/2012/08/wal-mart-brings-back-christmas-layaway-earlier-adds-perks/
  7. retails for a whopping $250: http://store.nike.com/us/en_us/?l=shop,pwp,c-1+100701/hf-10002+12001+4294967145/t-Men%27s_Basketball_Shoes

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